Issuance of restricted licences discontinued by the Insurance Council of British Columbia | Dentons
To embed, copy and paste the code into your website or blog: On March 1, 2021, the Insurance Council of British Columbia (ICBC) issued a notice advising that the ICBC has ceased issuing licences restricted to the sale or adjusting of one or more specific products (Restricted Licences). Background A recent legal review of the process for granting Restricted Licences determined that while the ICBC has the legislative authority to issue Restricted Licences under section 225.1 of the Financial Institutions Act (FIA), the process is not set out in the Insurance Council Rules (the Rules). As a res...
Source: jdsupra.com